Falcon Propagation Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09636412 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

Falcon Propagation Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M G Robb

Mrs S Robb

REGISTERED OFFICE:

37-38 Market Street

Ferryhill

Co. Durham

DL17 8JH

REGISTERED NUMBER:

09636412 (England and Wales)

ACCOUNTANTS:

Little & Neal

37-38 Market Street

Ferryhill

Co. Durham

DL17 8JH

FIXED ASSETS

Tangible assets

4

93,650

77,937

CURRENT ASSETS

Stocks

127,273

136,547

Debtors

5

848,628

871,677

Cash at bank

814,335

152,705

1,790,236

1,160,929

CREDITORS

Amounts falling due within one year

6

355,201

435,808

NET CURRENT ASSETS

1,435,035

725,121

TOTAL ASSETS LESS CURRENT LIABILITIES

1,528,685

803,058

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,528,585

802,958

SHAREHOLDERS' FUNDS

1,528,685

803,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2020 and were signed on its behalf by:

Mrs S Robb - Director

1.	STATUTORY INFORMATION

Falcon Propagation Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2019

111,066

Additions

31,748

At 30 June 2020

142,814

DEPRECIATION

At 1 July 2019

33,129

Charge for year

16,035

At 30 June 2020

49,164

NET BOOK VALUE

At 30 June 2020

93,650

At 30 June 2019

77,937

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Other debtors

848,628

871,677

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Taxation and social security

167,369

170,391

Other creditors

187,832

265,417

355,201

435,808